Coastal Financial (NASDAQ:CCB) Given “Overweight” Rating at Stephens

Coastal Financial (NASDAQ:CCB)‘s stock had its “overweight” rating reissued by stock analysts at Stephens in a research report issued on Thursday,Benzinga reports. They presently have a $100.00 target price on the stock. Stephens’ price objective would indicate a potential upside of 13.74% from the company’s previous close.

Other research analysts also recently issued reports about the company. Keefe, Bruyette & Woods lifted their price objective on Coastal Financial from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Raymond James reissued a “strong-buy” rating and issued a $100.00 price target (up from $88.00) on shares of Coastal Financial in a report on Wednesday, January 29th. Finally, Hovde Group lifted their price objective on Coastal Financial from $67.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th.

Coastal Financial Price Performance

CCB stock traded down $0.42 during trading on Thursday, reaching $87.92. 15,972 shares of the company were exchanged, compared to its average volume of 113,912. Coastal Financial has a 52-week low of $35.67 and a 52-week high of $91.39. The company has a market cap of $1.19 billion, a P/E ratio of 27.05 and a beta of 1.23. The stock’s 50 day moving average price is $83.94 and its 200 day moving average price is $67.23. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03.

Coastal Financial (NASDAQ:CCB) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.09). Coastal Financial had a return on equity of 14.98% and a net margin of 6.43%. As a group, analysts predict that Coastal Financial will post 4.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coastal Financial

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Coastal Financial by 11.4% during the 4th quarter. Vanguard Group Inc. now owns 685,385 shares of the company’s stock worth $58,196,000 after acquiring an additional 70,272 shares during the period. Wellington Management Group LLP raised its stake in Coastal Financial by 1,067.9% during the fourth quarter. Wellington Management Group LLP now owns 456,887 shares of the company’s stock worth $38,794,000 after purchasing an additional 417,767 shares during the period. State Street Corp boosted its holdings in shares of Coastal Financial by 2.4% in the 3rd quarter. State Street Corp now owns 314,274 shares of the company’s stock valued at $16,968,000 after purchasing an additional 7,386 shares during the last quarter. Jacobs Asset Management LLC grew its stake in shares of Coastal Financial by 9.1% during the 3rd quarter. Jacobs Asset Management LLC now owns 187,500 shares of the company’s stock valued at $10,123,000 after buying an additional 15,683 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Coastal Financial by 1.0% in the fourth quarter. American Century Companies Inc. now owns 157,238 shares of the company’s stock valued at $13,351,000 after acquiring an additional 1,511 shares during the last quarter. 59.24% of the stock is currently owned by institutional investors and hedge funds.

Coastal Financial Company Profile

Coastal Financial Corporation operates as the bank holding company for Coastal Community Bank that provides various banking products and services to small and medium-sized businesses, professionals, and individuals in the Puget Sound region in Washington. It accepts a range of deposit products, including demand and savings accounts, time deposits, and money market accounts.